Virgil G. Bailey III
Aurora,CO
Summary
Successful, detail-oriented professional with a Master of Science degree in accounting and twenty years of experience in accounting and related fields. Qualifications include, but are not limited to, in-depth experience with accounts receivables and payables, bookkeeping, preparing, spreading and analyzing financial statements.
Overview
19
19
years of professional experience
Work History
Operations Processor III
Wells Fargo
01.2013 - Current
- Request and make certain client financial statements (balance sheet, income statement, and cash flow), A/R and A/P aging are complete and within time limits. Input financials into One View to be spread. Review One View financial spreads (MRAs) in One View and analyze reports. Recommend and send changes to the BQR rating based on MRAs, risk rating worksheet, and current financial climate to the RM and RTM. Utilize the RM and RTM recommendations to finalize the BQR through One View and ART promptly.
- Ensure client schedules were complete including the sending of all relevant backup, and the inclusion of a signed Schedule of Accounts. Reconcile schedule daily by comparing invoices to the schedule download, preparing borrowing base certificates if necessary. Notify the Relationship Manager when the schedule was complete, and that funding was uploaded.
- Review and reconcile the borrowing base certificates (BBC) for clients including ensuring the A/R concentrations are with parameters. Consulting with the client about any discrepancies. Processing the BBC in the LUCAS system. Creating the wires for the clients as needed.
- Process purchase limit and purchase concentration request from clients and renew purchase limits/concentrations before expiration, by using Dun & Bradstreet reports, check aggregated customer exposure using ACE software, and gather rating information from S&P to analyze the creditworthiness of our clients’ new customers, check that BQRs and financials are current in the system.
- Confirm that client invoice reviews are examined and reported based on the criteria set by the RM. Certify invoice reviews approval and updated in One View.
- Reconcile Accounts Receivables to ensure that the client’s outstanding invoices and balances, match Wells Fargo’s outstanding receivables. Investigate any discrepancies and fixed as required. Ensuring that reconciliations have been approved by an RM and recorded in One view by the deadline.
- Provide excellent customer service to all clients by handling requests such as accounts payable assistance, and schedule and invoice and payment inquires as quickly and accurately as possible.
- Certify that all reporting including financial statements (internal and CPA reviewed) A/R, and A/P, invoice and A/R reconciliations, insurance renewals, and 8841 tax reporting deadlines are in the system and completed in One View.
- Process and update monthly client trend cards via worksheet or One View. Ensuring that information such as guarantor, A/R and A/R, financial statement, and covenant information are assessed and reviewed.
Operations Processor III
Wells Fargo
01.2012 - 01.2013
- Input manual and electronic commercial insurance checks create web checks and process ACH and lockbox checks. Research and process return premium checks Reconcile and deposit all checks, credit cards, and electronic disbursements.
- Research and identify accounts to ensure installments are going to the correct insured. Process and maintained and updated NSF reports. Input and maintained ACH request forms.
Operations Processor III
Wells Fargo
01.2007 - 01.2012
- Process manual and lockbox checks for multiple factoring clients, retrieved check copies, created and reconciled check and wire batches, posted checks & wires into FAS & Choice systems. Created Excel spreadsheets for heavy volume checks & wires, responsible for checks held over, and manual check spreadsheet.
- Upload invoice schedules into the FAS system, input manual invoice schedules, review, and correct invoice schedules, assist relationship associates with invoice schedule issues and errors, support relationship associates with new client set-up including creating excel shells for downloading invoices then downloading initial schedules.
- Reconcile all check and wire batches for 5 divisions, adjusted currency rates for the Canadian companies, prepared daily packet for the operations manager. Ran the End of Day procedures for 5 divisions.
- Create and maintain check research report, create and maintain deposit item report, updated daily summary worksheet, created and processed journal entries, create and maintain lockbox reconciliation reports for corporate accounting. Able to meet reporting deadlines for operations manager and accounting personnel.
Education
Master of Science Degree - Accounting and Financial Management
Keller School of Management
01.2019
Bachelor of Science Degree - Business Administration with a concentration in accounting
DeVry University
01.2016
Skills
- Quantitative and Qualitative Financial Analysis
- Collateral Analyst
- High Volume Internal and External Communications
- Financial Statements and Reports
- Standards and Compliance
- Windows Operating Systems and Microsoft Office (Outlook, Word, Excel, PowerPoint, Access)
- Company and industry-specific software (OneView, LUCAS, ART, Precise, Choice)
- Data sharing and reporting tools (iReports, CEO, ACE)
- Web tools and applications used for research and information (Dun Bradstreet, S&P)
Timeline
Operations Processor III
Wells Fargo
01.2013 - Current
Operations Processor III
Wells Fargo
01.2012 - 01.2013
Operations Processor III
Wells Fargo
01.2007 - 01.2012
Master of Science Degree - Accounting and Financial Management
Keller School of Management
Bachelor of Science Degree - Business Administration with a concentration in accounting
DeVry University